Detecting Higher-Timeframe Pivot Highs and Lows on Lower-Timeframe Charts

Summary

This indicator finds pivot highs and lows on a user-selected timeframe and makes them available on a chart that may use a different timeframe. Pivot detection uses configurable numbers of bars to the left and right of a candidate turning point, with a default higher timeframe of 240 minutes and two bars on each side. The settings also allow colors for the pivot lines and labels.

The document presents the tool as a way to add higher-timeframe pivots where the author found no suitable published indicator, and offers no performance study or trading results. Its main operational caveat is that it does not check whether the chart timeframe is lower than the selected pivot timeframe; the author advises choosing a higher timeframe in the settings than on the chart. The supplied source excerpt includes strategy entries on detected pivot highs and lows, but does not show a complete trading system or define risk controls. Pivots can help mark potential turning levels, but the document does not establish their predictive value.

Key ideas

• The indicator detects pivot highs and lows using configurable left-bar and right-bar counts.
• Pivot calculations run on a selected timeframe and can be viewed on a chart using another timeframe.
• The default selected timeframe is 240 minutes, with two bars on each side of a pivot.
• The indicator does not validate that its selected timeframe exceeds the chart timeframe.
• The document provides no performance evidence or complete risk-managed trading method.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.